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Adani Energy QIP gets 3.1x bids

Adani Energy Solutions’ ₹3,500 crore qualified institutional placement saw strong demand. The issue was subscribed 3.1 times, drawing bids worth ₹10,841 crore. Domestic mutual funds and insurers participated actively in the offering. Foreign investors like Manulife and Fiera Capital also joined the placement. The company priced its shares at a discount to market rates.